Locals make bid for former Quinn Group

26 Feb 2014

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Quinn Business Retention Company (QBRC) Limited, a company established by a group of local businessmen, supported by the previous executive of the former Quinn Group, has confirmed its interest in acquiring the businesses of Aventas, the manufacturing operations of the former Quinn Group.

Quinn Business Retention Company (QBRC) Limited, a company established by a group of local businessmen, supported by the previous executive of the former Quinn Group, has confirmed its interest in acquiring the businesses of Aventas, the manufacturing operations of the former Quinn Group.

In an exclusive interview with the Leitrim Observer this week the community led and locally sponsored company have revealed they are in direct discussions with the management team at Aventas and their advisers with a view to purchasing the business outright, which would include the current manufacturing operations at Ballyconnell and Derrylin and the glass factory in the UK.

They have also pledged their interest in the Quinn Windmills business owned by Liberty Insurance.

The company is sponsored by Cllr John McCartin, Newtowngore Engineering, Ernie Fisher, former MD of Fisher Engineering and John (Bosco) O’Hagan, MD of the Specialist Joiner Group.

Denis Doogan, Former CEO at Quinn Radiators, Kevin Lunney, former Group Development Officer at the Quinn Group, and Dara O’Reilly, former Group Finance Director of the Quinn Group have also been named as directors in the new company.

QBRC says “they remain confident that Sean Quinn and his family will support this initiative to retain, consolidate and manage the group locally.”

According to one of the main directors, Cllr John McCartin, if their bid is successful, QRBC “would reinstate many of the old management with Liam McCaffrey expected to return as the Chief Executive.” The company which says it has a “number of financing options” available for an outright purchase says their prime objective is to “keep the former Quinn Group whole, avoiding at all costs a breakup or piecemeal sale of individual businesses.”

McCartin said he hopes QBRC have the support of the local community, businesses and employees in their bid.

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